According to the Decatur Association of Realtors, compared to June 2009, June 2010 showed a significant increase in number of homes sold (+19.5%), average sale price (+11.4%), average sale price to list price (+0.83%), and days on market (+8 days). At the end of June, there were 771 active listing in our multiple listing service (MLS), representing a 5.7 month supply of homes, a significant improvement over the 6.4 months supply of homes in June 2009.
It is important to understand that our market remains extremely volatile, month to month. You will note on the chart below that we had a significant increase in number of sales in April and May, compared to April and May of last year. This was expected due to the large number of buyers taking advantage of the home-buyer tax credit, which expired at the end of April. Now we will likely see a slowdown in the market. Hopefully, with many local companies forecasting employment growth, this slowdown will be temporary.
With everything that’s happened in the last couple of years relating to real estate practices (the tightening of credit, the elimination of national seller assisted financing programs, the expired home-buyer tax credit program, the creation of an Illinois down payment and closing cost assistance program, home energy efficiency tax credits, etc.), and the confusing national real estate news that you see or hear, it is essential that prospective home buyers understand their options and opportunities. Real estate professionals have the knowledge, skills, and local expertise necessary to help determine pricing, timing, and best value, whether you are buying or selling; whether you are a first-time buyer, or a seasoned home-buying and -selling veteran.
If you would like our team's assistance with the purchase or sale of a property, please give us a call. Who do you know that is thinking about moving and could use our services? Our team of experts would love to help them as well. It is our pleasure to assist you with your most precious investment. With the Glenda Williamson team, your satisfaction is our success.
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